NetApp (NASDAQ:NTAP) Given Mkt Underperform Rating At JMP Securities, Is a Move on The Horizon?


How JMP Securities Currently Rates NetApp (NASDAQ:NTAP)

JMP Securities have begun coverage on NetApp (NASDAQ:NTAP) shares recently in analysts report disseminated on 16 December. The firm has decided to place a Mkt Underperform rating on NTAP stock.

From a total of 25 analysts covering Netapp Inc. (NASDAQ:NTAP) stock, 4 rate it a ”Buy”, 9 a “Sell”, and 22 a ”Hold”. This means that 11% of the ratings are positive. The highest target price is $45 while the lowest target price is $26. The mean of all analyst targets is $33.12 with a 19.44% above today’s ($28.86) stock price. Netapp Inc. was the topic of 24 analyst reports since August 17, 2015 according to the firm StockzIntelligence Inc. BMO Capital Markets initiated shares on December 11 with “Market Perform” rating. Barclays Capital initiated shares with “Underweight” rating and $31 target share price in a report from an October 14. Monness Crespi & Hardt downgraded NTAP stock in a recent report from November 13 to “Sell” rating. Robert W. Baird upgraded the rating on October 12. Robert W. Baird has a “Outperform” rating and a $40 price target on shares. Finally, UBS downgraded the stock to “Sell” rating in a report issued on an October 26.

Approximately 1.52M shares of stock traded hands. NetApp Inc. (NASDAQ:NTAP) has declined 19.07% since May 13, 2015 and is downtrending. It has underperformed by 16.44% the S&P500.

The overall sentiment of institutions has decreased to 0.77 in Q2 2015. Its down 0.12, from 0.89 in 2015Q2. The ratio fall, as 57 institutions have sold all the shares of NetApp Inc. that they owned while 167 funds have taken shares off the table. 56 funds have purchased shares for the first time while 117 added to their positions. These institutions now hold 239.76 million shares or 10.41% less than the 267.60 million shares they owned in 2015Q2.

The Fund Okumus Fund Management Ltd. currently is holding shares equating to 4.36% of its total portfolio in NetApp Inc. representing a total of 1.13 million shares. Another fund,Aimz Investment Advisors Llc, is holding a total of 89,544 shares equating to 2.43% of their holdings. Additionally, Seizert Capital Partners Llc has a 2.28 million share stake in NetApp Inc. which represents 2.05% of their total portfolio. The Fund, Petrus Trust Company Lta, based out of Texas, has also built up a stake in the stock, which represents a total of 1.98% of their total portfolio. Finally Fort L.P., a fund which is based in the state of Maryland reported a total holdings of 128,043 shares.

Insider activity is a very important aspect to track on any stock. Going back to May 27, 2015, shareholders of NetApp Inc. have witnessed 0 buys, and a total of 4 insider sales equating to a net activity of approximately $1.80 million . Fawcett Matthew K sold 6,633 shares worth approximately $195,608. Shaheen George T sold 35,000 shares worth approximately $1.11 million. Allen Jeffry R sold 25,000 shares worth approximately $832,773. Georgens Thomas sold 34,705 shares worth approximately $1.17M. The company insider Noviello Nicholas R sold 4,320 shares worth $146,318.

NetApp, Inc. is engaged in providing software, systems and services to manage and store customer data. The company has a market cap of $8.31 billion. The Firm offers a portfolio of services and products to a range of customer workloads across various data types and deployment models. It has 22.56 P/E ratio. The Company’s data management solutions enable clients on-premises or in a public cloud resource to control, integrate, move and manage it.

According to Zacks Investment Research, “NetApp Inc., formerly Network Appliance, Inc., is a leading provider of innovative data management solutions that simplify the complexity of storing, managing, protecting, and retaining enterprise data. Market leaders around the world choose NetApp to help them reduce cost, minimize risk, and adapt to change.”